A term used by Microsoft in reference to what everybody else calls ‘bookmarks’. The folder containing Favourites can be found in the User <name> folder.. So easy.

So, when somebody asks me how to save Favourites, I tell them where the folder is located, and how to copy it to another location. So easy.

Supposing that this person uses the term Favourites, but secretly uses Firefox. Will the Firefox bookmarks be saved in the Favourites folder? No..

You can backup the entire Firefox profile, including bookmarks, extensions, settings, and history, then paste it into the Firefox profile directory on the new hard drive/computer. No editing is necessary. Instructions are here..